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Financial Reporting Standards Council Member Profiles

Name:  Mr Suresh Kana
Position:  Chairperson of the FRSC
Category:  Registered and practicing as an auditor
Date appointed: 2015
Biography:  Bcom (Durban Westville University), Bcom (Honours) (UNISA), CA(SA), Mcom

Mr Suresh Kana is currently the Territory Senior Partner for PwC Africa and also serves on the global PwC Strategy Council. He served on the PwC Global Board from 2005 to 2009.

Mr Kana is the Chairman of the South African Institute of Chartered Accountants (SAICA or Institute) and has a long-standing association with the Institute having become involved with SAICA's committees in 1993 and for many years chairing its Auditing Standards Committee, responsible for the development and issuance of auditing standards in South Africa.

From 2003 to 2005 Mr Kana was also a member of the Accounting Standards Board, responsible for the setting of accounting standards for use in the public sector. He served as a member of the GAAP Monitoring Panel (now known as the Financial Reporting Investigations Panel) from its inception until the end of 2005.

Mr Kana was elected to serve as a board member of the International Audit and Assurance Standards Board (IAASB) of the International Federation of Accountants which he did from 1995 to 2003.

Mr Kana has made notable high-level contributions to issues of governance and accountability in the business world and has always sought to act in the public interest. He is convenor of the Accounting and Auditing sub-committee of the well-known King Committee on Governance in South Africa, Deputy Chair of the Board of Directors of the Independent Regulatory Board of Auditors (IRBA) and a member of the Integrated Reporting Council.

In the financial field, Mr Kana has served on the Boards of Appeal for the Financial Services Board Act, Stock Exchanges Control Act and the Financial Markets Control Act. In this role he was involved in a number of appeal cases in the financial services industry. Mr Kana also serves as a Trustee on the Constitutional Court Trust. He has vast experience in contributing to matters that affect the auditing and accounting profession and acting in the public interest.

Mr Kana has wide experience in a variety of industries and has been involved in the audits of numerous listed companies.

In 1976, Suresh was the first black professional to join the then Coopers and Lybrand and played a key role as national Human Capital Director in the later PricewaterhouseCoopers' transformation. He currently serves as a Trustee on the SAICA's Thuthuka Bursary Fund, aimed at increasing the access of black graduates to the Chartered Accountancy profession.

Mr Kana's interest in academic work is demonstrated by his professorship at the University of Johannesburg and the post of Honorary Professor at the Centre of Accounting at the University of the Free State. He also acted as a UNISA external examiner in Advanced Auditing for six years. He is co-author of Corporate Reporting, now in its 9th edition, as well as consulting editor on the auditing textbook "Principles and Practices of Auditing" by Puttick and van Esch.

Mr Kana is the recipient of an Honorary Doctorate in Commerce from both Nelson Mandela Metropolitan University and the University of Johannesburg.